(3 Oct 2019) A French wine exporters representative said they are “victims” in the latest round of US trade tariffs announced Wednesday, which will place import taxes on $7.5 billion worth of EU goods.
The latest tariffs target large aircraft but also many typical European products such as olives, whiskey, wine, cheese and yogurt.
They will take effect October 18 and amount to a 10% tax on EU aircraft and steep 25% rate on everything else.
Antoine Leccia, president of the Federation of French Wines and Spirits Exporters (FEVS), said they were confused by the US’ decision.
“Those barriers are not the way that we can develop our business right now,” he said.
The European Union warned Thursday it would retaliate, raising fears of a global recession.
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1 Comment
Every sector gets bent over eventually. To protect the wine industry in France, I am sure France had to bend over a few other sectors to make up for it.